Envestnet Asset Management Inc. Reduces Stock Position in Invesco QQQ (NASDAQ:QQQ)

Envestnet Asset Management Inc. lowered its stake in shares of Invesco QQQ (NASDAQ:QQQ - Free Report) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,931,694 shares of the exchange traded fund's stock after selling 37,286 shares during the quarter. Envestnet Asset Management Inc. owned about 0.46% of Invesco QQQ worth $1,374,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Diversified Enterprises LLC grew its holdings in Invesco QQQ by 0.4% in the fourth quarter. Diversified Enterprises LLC now owns 5,240 shares of the exchange traded fund's stock worth $2,679,000 after purchasing an additional 20 shares during the period. Prevail Innovative Wealth Advisors LLC lifted its stake in Invesco QQQ by 4.3% during the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 484 shares of the exchange traded fund's stock valued at $247,000 after acquiring an additional 20 shares in the last quarter. Legacy Investment Solutions LLC boosted its holdings in Invesco QQQ by 8.2% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the exchange traded fund's stock worth $138,000 after purchasing an additional 20 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of Invesco QQQ by 0.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,024 shares of the exchange traded fund's stock valued at $3,080,000 after acquiring an additional 20 shares in the last quarter. Finally, Willis Johnson & Associates Inc. increased its position in shares of Invesco QQQ by 2.6% during the 4th quarter. Willis Johnson & Associates Inc. now owns 814 shares of the exchange traded fund's stock valued at $416,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Invesco QQQ Stock Down 0.8%

Shares of Invesco QQQ stock traded down $4.19 on Monday, reaching $552.03. 45,126,311 shares of the company traded hands, compared to its average volume of 39,298,291. The company has a 50 day moving average of $519.53 and a 200 day moving average of $504.60. Invesco QQQ has a 52 week low of $402.39 and a 52 week high of $557.20.

Invesco QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 23rd will be given a dividend of $0.5911 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.43%.

Invesco QQQ Company Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.